Quote of the Day
"Democracy isn’t collapsing from single blows. It is being chipped away—internally and externally. To survive, it requires decisive action."
(William Priest)
Chart of the Day
Ironic timing for the coming ‘sports betting equinox.’ (chart via YCharts)
Markets
- A short history of bubbles. (ritholtz.com)
- Bubbles aren't historically called out by so many people. (awealthofcommonsense.com)
- Cullen Roche, "You can’t asset allocate your way out of an unsustainable liability problem." (disciplinefunds.com)
- You don't have to have an opinion on gold. (brklyninvestor.com)
Business
- Companies don't want the government as a shareholder. They are too afraid to say otherwise. (barrons.com)
- Why tobacco companies continue to generate huge profits. (economist.com)
Finance
- 24/7 trading is coming. It's not clear we're prepared. (barrons.com)
- A tale of the tape: prediction markets vs. election pollsters. (politico.com)
Fund management
- Morningstar ($MORN) just bought itself a conflict of interest. (riabiz.com)
- Are data centers really infrastructure investment? (altgoesmainstream.substack.com)
- Nobody wants mutual funds. Nobody. (etf.com)
Gambling
- The NBA gambling scandal explained. (natesilver.net)
- Why access to a NBA player is valuable. (nytimes.com)
- The leagues embraced sports betting. The chickens are coming home to roost. (sports.yahoo.com)
- Prop bets are a big part of the problem. (theatlantic.com)
- ESPN's business is dependent on the NBA AND sports betting. (washingtonpost.com)
- Sports bettors are taking their losses out on players. (awfulannouncing.com)
ICE
- ICE applicants are struggling to meet already reduced fitness levels. (theatlantic.com)
- ICE is hiring people with criminal backgrounds. (nbcnews.com)
- Why ICE officers are largely above the law. (vox.com)
- How whistles have become a symbol of protest against ICE. (wsj.com)
- ICE will not have fun in NYC. (hamiltonnolan.com)
CISA
- The Cybersecurity and Infrastructure Security Agency has been gutted in Trump 2.0. (politico.com)
- And will no longer be able too coordinate with private businesses and other players. (cybersecuritydive.com)
The White House
- Trump's fingerprints are all over the destruction of the White House. (wsj.com)
- The new ballroom will dwarf the actual White House. (msn.com)
- A bird's eye view of the destruction of the East Wing. (arstechnica.com)
- Where did the rubble from the East Wing go? (theatlantic.com)
- The White House teardown is an apt metaphor. (paulkrugman.substack.com)
Trump
- The effects of Trump's abuses of power will live on long past him. (axios.com)
- The President is an active user of AI generated images. (wsj.com)
- What happens to MAGA after Trump. (noahpinion.blog)
H-1Bs
- There is a better way to allocate H1-B visas. (agglomerations.substack.com)
- How changes to the H1-B program would affect colleges and businesses. (richmondfed.org)
Policy
- A new 10% tariff on Canadian goods is due to a television ad. (wsj.com)
- The National Parks Service is being slowly dismantled. (republic.land)
- How the shutdown is affecting food aid. (npr.org)
Economy
- Recessions have long lasting effects and can affect different generations. (wealthmanagement.com)
- A lot of questions will be answered in the next recession. (awealthofcommonsense.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on Abnormal Returns. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
